Economic Data and Growth
Consumer Confidence Slips as Future Expectations Weaken
August 31, 2026Consumer confidence decreased 0.8 points in August to 89.4. Among its components, the Present Situation Index improved while the Expectations Index contracted as customers’ concerns regarding the present situation eased and concerns about the future worsened. The Present Situation Index, reflecting current business and labor market conditions, rose 6.8 points to 121.2. Meanwhile, the Expectations…
Fifth District Factory Growth Eases, While Investment Outlook Improves
August 31, 2026Manufacturing activity in the Fifth District rose at a slower pace in August after ticking up in July, with the composite manufacturing index edging down from 5 to 4. At the same time, local business conditions stepped down but remained positive, declining from 10 to 4 in August. In line with a weakening of business…
Home Prices Gain Momentum, but Affordability Still Limits Demand
August 31, 2026In June, the S&P Cotality Case-Shiller U.S. National Home Price Index recorded a 1.5% annual gain, up from a 1.2% rise in May. The 10-City Composite increased 2.9% year-over-year, up from a 2.4% gain the previous month, while the 20-City Composite moved up 2.1%, up from 1.6% in May. Chicago again posted the highest annual…
Tenth District Manufacturing Edges Higher on Stronger Orders
August 31, 2026Manufacturing activity grew at a slightly faster pace in the Tenth District in August, with the month-over-month composite index ticking up to 10 from 9 in July. Meanwhile, expectations for future activity stayed the same at 20. The month-over-month activity uptick was due to gains in paper and printing manufacturing offsetting slowing in durable manufacturing…
Philadelphia Fed Manufacturing Index Rises to Highest Level Since April 2021
August 24, 2026In August, Philadelphia’s regional manufacturing activity expanded to its highest level since April 2021, with the index for general business activity climbing from 41.4 to 47.4. This month, 56.9% reported increases, while 9.6% reported decreases. New orders declined, moving down from 37.0 to 30.1, while shipments decreased from 33.7 to 27.7. Meanwhile, employment improved to…
Industrial Production Ticks Up as Manufacturing Capacity Utilization Edges Higher
August 24, 2026Industrial production ticked up 0.2% in July, while manufacturing output rose by a similar amount after increasing 0.3% in June. At 98.4% of its 2017 average, manufacturing production moved up 1.2% from July 2025. Capacity utilization for manufacturing was 76.0%, up slightly from 75.9% in June and up 1.0% over the past year. Capacity utilization…
Building Permits Rise, Led by Multifamily Construction Gains
August 24, 2026Building permits increased 5.0% in July and 3.1% over the year. Permits for single-family homes in July rose 2.5% and 1.1% over the year. At the same time, permits for buildings with five or more units climbed 9.1% from June and 6.3% over the year. In July, housing starts fell 12.4% from June and 13.5%…
S&P Global Flash U.S. Manufacturing PMI Falls to Five-Month Low
August 24, 2026The S&P Global Flash U.S. Manufacturing PMI fell from 53.9 to 53.2 in August, a five-month low. Factory production slowed to its lowest level since July 2025, while new orders growth rose at its slowest pace since March. Meanwhile, manufacturing employment rose at its fastest pace since May. Inventories declined in August for the first…
New York Manufacturing Activity Expands at Faster Pace as Outlook Strengthens
August 24, 2026Manufacturing activity in New York state expanded at a faster pace in August, with the headline business conditions index rising 5.0 points to 20.6. The new orders index decreased 4.9 points to 17.3, while the shipments index fell 12.7 points to 11.7. Unfilled orders climbed 10.5 points to 15.5, while inventories moved down 9.2 points…
Import and Export Prices Drop on Lower Fuel Costs
August 24, 2026U.S. import prices decreased 0.4% in July after declining 0.3% in June, with lower prices for fuel imports more than offsetting higher prices for nonfuel imports. Over the year, import prices advanced 5.9%. Meanwhile, U.S. export prices stepped down 1.3% in July, driven by lower prices for nonagricultural exports. Over the past year, export prices…
